www.upstreamonline.com http://www.upstreamonline.com/ www.upstreamonline.com Brent dips in early trade http://www.upstreamonline.com/live/1390261/brent-dips-in-early-trade Oil prices dipped in early trading on Friday following slight gains in the previous sessions, and analysts said the outlook remained weak with production high and producers reducing operating costs to adjust to lower export revenues. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1390261/brent-dips-in-early-trade Fri, 30 Jan 2015 04:39:31 +0000 live Woodside gets nod for Canadian exports http://www.upstreamonline.com/live/1390260/woodside-gets-nod-for-canadian-exports Canada's National Energy Board (NEB) has given the nod for Woodside Petroleum's application a 25-year export licence. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1390260/woodside-gets-nod-for-canadian-exports Fri, 30 Jan 2015 04:11:57 +0000 live Origin posts fall in revenue http://www.upstreamonline.com/live/1390259/origin-posts-fall-in-revenue Sales revenue for the three months to 31 December totalled A$235.6 million (US$183.1 million), down 6% on the A$251.1 million generated by the Australian company in the previous quarter. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1390259/origin-posts-fall-in-revenue Fri, 30 Jan 2015 03:24:53 +0000 live Five in race for ONGC's Bassein development http://www.upstreamonline.com/live/1390258/five-in-race-for-ongcs-bassein-development At least five leading contractors are vying for the much-delayed $500 million Bassein project being dveloped by India’s Oil & Natural gas Corporation (ONGC) off the country’s west coast. stories@upstreamonline.com (Upstream Staff) http://www.upstreamonline.com/live/1390258/five-in-race-for-ongcs-bassein-development Fri, 30 Jan 2015 02:47:17 +0000 live Players line up for Mexico data http://www.upstreamonline.com/live/1390251/players-line-up-for-mexico-data List of companies given the nod to access data room ahead of inaugural bidding round revealed Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1390251/players-line-up-for-mexico-data Fri, 30 Jan 2015 01:03:39 +0000 live Murphy farms down in US Gulf http://www.upstreamonline.com/live/1390247/murphy-farms-down-in-us-gulf US independent Murphy Oil has farmed down its interest in a deep-water Gulf of Mexico wildcat that is weeks away from reaching total depth, the first well in what could be an active year of exploration in the region for the company. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1390247/murphy-farms-down-in-us-gulf Thu, 29 Jan 2015 23:32:01 +0000 live US Senate approves Keystone bill http://www.upstreamonline.com/live/1390244/us-senate-approves-keystone-bill The US Senate, newly under Republican control, has passed a bill to speed up construction of the Keystone XL pipeline. Kathrine.Schmidt@upstreamonline.com (Kathrine Schmidt) http://www.upstreamonline.com/live/1390244/us-senate-approves-keystone-bill Thu, 29 Jan 2015 22:41:11 +0000 live Pennsylvania halts state forest leasing http://www.upstreamonline.com/live/1390242/pennsylvania-halts-state-forest-leasing Pennsylvania’s newly elected Democratic governor has re-instated a moratorium on leasing state-controlled lands for natural gas drilling. Noah.Brenner@nhst.no (Noah Brenner) http://www.upstreamonline.com/live/1390242/pennsylvania-halts-state-forest-leasing Thu, 29 Jan 2015 22:34:06 +0000 live Schlumberger evacuates after bomb threat http://www.upstreamonline.com/live/1390238/schlumberger-evacuates-after-bomb-threat Services giant Schlumberger confirmed that it evacuated a research and development facility south of Houston on Thursday after a bomb threat was discovered. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1390238/schlumberger-evacuates-after-bomb-threat Thu, 29 Jan 2015 21:48:23 +0000 live Full MWCC system delivered http://www.upstreamonline.com/live/1390222/full-mwcc-system-delivered The Marine Well Containment Company (MWCC) has taken delivery of the last of the components of an expanded containment system to respond to a Gulf of Mexico blowout. Kathrine.Schmidt@upstreamonline.com (Kathrine Schmidt) http://www.upstreamonline.com/live/1390222/full-mwcc-system-delivered Thu, 29 Jan 2015 18:58:13 +0000 live Seaway finishes Pemex jobs http://www.upstreamonline.com/live/1390195/seaway-finishes-pemex-jobs Seaway Heavy Lifting has completed a project off Mexico that has seen it install numerous topsides and a jacket ultimately for state player Pemex. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1390195/seaway-finishes-pemex-jobs Thu, 29 Jan 2015 15:46:13 +0000 live Salvage operation for SeaBird http://www.upstreamonline.com/live/1390187/salvage-operation-for-seabird Cash-strapped seismic player SeaBird Exploration appears to have secured a financial restructuring deal with stakeholders to avert bankruptcy. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1390187/salvage-operation-for-seabird Thu, 29 Jan 2015 15:28:31 +0000 live Shell seeks to beat price panic http://www.upstreamonline.com/live/1390186/shell-seeks-to-beat-price-panic Shell’s executives have sought to stay upbeat on the future prospects for Brent rates and company profits as they presented results and forward plans that were both overshadowed by the current low oil prices. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1390186/shell-seeks-to-beat-price-panic Thu, 29 Jan 2015 15:26:04 +0000 live Brazil court 'freezes Gabrielli assets' http://www.upstreamonline.com/live/1390165/brazil-court-freezes-gabrielli-assets Former Petrobras chief executive Jose Sergio Gabrielli has had his assets frozen by a Brazilian court as part of a probe into historical corruption at the state-controlled oil giant, according to a report. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1390165/brazil-court-freezes-gabrielli-assets Thu, 29 Jan 2015 15:12:14 +0000 live Colombia cash deadline for Interoil http://www.upstreamonline.com/live/1390166/colombia-cash-deadline-for-interoil Interoil E&P has three months to come up with a further bank guarantee of $10.6 million for the Colombian authorities to prevent a licence in the South American country being terminated. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1390166/colombia-cash-deadline-for-interoil Thu, 29 Jan 2015 14:49:56 +0000 live Premier postpones Vette plan http://www.upstreamonline.com/live/1390164/premier-postpones-vette-plan Premier Oil has decided to postpone submission of a development plan for its Vette (ex-Bream) field off Norway as it seeks to capture the benefit of lower contracting costs amid a market slump. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1390164/premier-postpones-vette-plan Thu, 29 Jan 2015 13:49:54 +0000 live Bellatrix cuts spending http://www.upstreamonline.com/live/1390163/bellatrix-cuts-spending Canadian junior Bellatrix Exploration is joining the round of industry cost-cutting by reducing its capital expenditure budget by a third this year due to low oil prices. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1390163/bellatrix-cuts-spending Thu, 29 Jan 2015 13:11:40 +0000 live Cameron keeps capex steady http://www.upstreamonline.com/live/1390162/cameron-keeps-capex-steady US rig owner Cameron is looking to keep capital expenditure relatively steady this year, although it is braced for tough market conditions amid a weak oil price environment. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1390162/cameron-keeps-capex-steady Thu, 29 Jan 2015 12:45:03 +0000 live ConocoPhillips sees earnings slump http://www.upstreamonline.com/live/1390160/conocophillips-sees-earnings-slump US oil major ConocoPhillips has slumped to a quarterly loss of $39 million in the fourth quarter compared to a net profit of $2.5 billion during the same period a year earlier. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1390160/conocophillips-sees-earnings-slump Thu, 29 Jan 2015 12:26:26 +0000 live Oxy takes $5.1bn writedown http://www.upstreamonline.com/live/1390158/oxy-takes-usd-51bn-writedown Occidental Petroleum (Oxy) has taken a $5.1 billion writedown hit in the fourth quarter as a result of the slump in oil prices. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1390158/oxy-takes-usd-51bn-writedown Thu, 29 Jan 2015 12:24:41 +0000 live Harvest withdraws Venezuela case http://www.upstreamonline.com/live/1390154/harvest-withdraws-venezuela-case US player Harvest Natural Resources has withdrawn a request for international arbitration proceedings against Venezuela over what it had called “systematic thwarting” of its investments in the oil-rich South American nation. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1390154/harvest-withdraws-venezuela-case Thu, 29 Jan 2015 12:10:11 +0000 live Shell plans 2015 Alaska restart http://www.upstreamonline.com/live/1390146/shell-plans-2015-alaska-restart Anglo-Dutch supermajor Shell is planning to restart oil drilling in the Arctic this year, chief executive Ben van Beurden has said. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1390146/shell-plans-2015-alaska-restart Thu, 29 Jan 2015 11:58:01 +0000 live H&P profit up, revenue days to sink http://www.upstreamonline.com/live/1390135/handp-profit-up-revenue-days-to-sink Helmerich & Payne (H&P) has posted a strong set of first-quarter results for the financial year, but has warned of headwinds amid a market downturn. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1390135/handp-profit-up-revenue-days-to-sink Thu, 29 Jan 2015 11:40:12 +0000 live DNV GL bags Maria award http://www.upstreamonline.com/live/1390140/dnv-gl-bags-maria-award DNV GL has landed a potential Nkr30 million ($3.95 million) deal with Wintershall to carry out verification work on subsea equipment for the German operator’s Maria project in the Norwegian Sea. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1390140/dnv-gl-bags-maria-award Thu, 29 Jan 2015 11:36:42 +0000 live Barents wells 'off menu' for Statoil http://www.upstreamonline.com/live/1390128/barents-wells-off-menu-for-statoil Statoil is calling off any further drilling in the Barents Sea off Norway this year after a recent abortive campaign as the state-owned player hits the brakes on exploration amid low oil prices, according to a report. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1390128/barents-wells-off-menu-for-statoil Thu, 29 Jan 2015 10:48:35 +0000 live Caza holds off at Bone Spring play http://www.upstreamonline.com/live/1390125/caza-holds-off-at-bone-spring-play London-listed junior Caza Oil & Gas is holding off on any new non-essential well commitments in its Bone Spring sands drilling programme to avoid losing profits from the low price environment. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1390125/caza-holds-off-at-bone-spring-play Thu, 29 Jan 2015 10:06:16 +0000 live PTTEP in $1bn impairment hit http://www.upstreamonline.com/live/1390113/pttep-in-usd-1bn-impairment-hit Thailand's PTT Exploration & Production (PTTEP) has seen its full-year profit whacked by a hefty impairment charge and soaring expenses. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1390113/pttep-in-usd-1bn-impairment-hit Thu, 29 Jan 2015 09:44:55 +0000 live Soco cuts capex, reviews assets http://www.upstreamonline.com/live/1390114/soco-cuts-capex-reviews-assets Soco International is slashing its investment budget for this year by 44% as it cuts back on drilling work in Vietnam and Congo-Brazzaville, as well as reviewing its entire asset portfolio as low oil prices take a toll. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1390114/soco-cuts-capex-reviews-assets Thu, 29 Jan 2015 09:43:41 +0000 live Total gains new Adco role http://www.upstreamonline.com/live/1390112/total-gains-new-adco-role France’s Total has gained a 10% share of Abu Dhabi's new 40-year giant Abu Dhabi Company for Onshore Petroleum Operations (Adco) concession. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1390112/total-gains-new-adco-role Thu, 29 Jan 2015 08:57:14 +0000 live Profits drop for Gazprom http://www.upstreamonline.com/live/1390111/profits-drop-for-gazprom Russian gas giant Gazprom saw its net profit for the first nine months tumble 35% to 556.3 billion roubles ($8.13 billion) from a year earlier as it was hit by a hefty impairment charge on deliveries to Ukraine. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1390111/profits-drop-for-gazprom Thu, 29 Jan 2015 08:46:40 +0000 live OMV slashes capex, books impairments http://www.upstreamonline.com/live/1390108/omv-slashes-capex-books-impairments Austrian state player expects delay in hitting production target but continues upstream drive Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1390108/omv-slashes-capex-books-impairments Thu, 29 Jan 2015 08:13:34 +0000 live UMW takes second Chinese jack-up http://www.upstreamonline.com/live/1390110/umw-takes-second-chinese-jack-up Fabrication yard China Merchants Heavy Industry has delivered a jack-up drilling rig to Malaysian service provider UMW Oil and Gas. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1390110/umw-takes-second-chinese-jack-up Thu, 29 Jan 2015 08:06:16 +0000 live Shell in $15bn spending cut http://www.upstreamonline.com/live/1390107/shell-in-usd-15bn-spending-cut Anglo-Dutch supermajor Shell plans to cut spending by $15 billion over the next three years in response to lower oil prices. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1390107/shell-in-usd-15bn-spending-cut Thu, 29 Jan 2015 08:01:57 +0000 live Maersk takes delivery of third jack-up http://www.upstreamonline.com/live/1390105/maersk-takes-delivery-of-third-jack-up Danish company Maersk Drilling has taken delivery of a harsh environment jack-up rig from Singapore's Keppel Fels. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1390105/maersk-takes-delivery-of-third-jack-up Thu, 29 Jan 2015 07:18:11 +0000 live Myanmar looking to sweeten PSC deals http://www.upstreamonline.com/live/1390104/myanmar-looking-to-sweeten-psc-deals Myanmar is considering sweetening the terms of its production sharing contracts for the offshore blocks from the 2013 licensing round for which PSC negotiations are continuing. (Amanda Battersby) http://www.upstreamonline.com/live/1390104/myanmar-looking-to-sweeten-psc-deals Thu, 29 Jan 2015 06:19:49 +0000 live Crude near 6-year lows http://www.upstreamonline.com/live/1390101/crude-near-6-year-lows Oil remained weak in Asia on Thursday after data showing record US stockpiles sent prices tumbling to the lowest level in nearly six years in the previous session and analysts said a global glut would continue to keep the market under pressure. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1390101/crude-near-6-year-lows Thu, 29 Jan 2015 04:44:19 +0000 live China sees power demand growth slow http://www.upstreamonline.com/live/1390100/china-sees-power-demand-growth-slow China saw its power demand growth slow more than growth gross domestic product in 2014, and, while recovery is not expected in the short-term, robust growth is expected over the medium-term Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1390100/china-sees-power-demand-growth-slow Thu, 29 Jan 2015 04:32:15 +0000 live Output fall hits AWE's revenues http://www.upstreamonline.com/live/1390099/output-fall-hits-awes-revenues Lower oil prices also blamed as company commits to reducing costs Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1390099/output-fall-hits-awes-revenues Thu, 29 Jan 2015 03:31:35 +0000 live Oil Search gets PNG LNG revenue boost http://www.upstreamonline.com/live/1390097/oil-search-gets-png-lng-revenue-boost Papua New Guinea-based Oil Search saw revenues rise during the final three months of 2014 as output lifted with the ramp up of the PNG liquefied natural gas (PNG LNG) project. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1390097/oil-search-gets-png-lng-revenue-boost Thu, 29 Jan 2015 02:19:41 +0000 live ExxonMobil making progress at Hides http://www.upstreamonline.com/live/1390096/exxonmobil-making-progress-at-hides ExxonMobil is drilling ahead towards the primary deep reservoir target at its much-anticipated Hides F1 (Hides Deep) exploration and development well in Papua New Guinea. (Russell Searancke) http://www.upstreamonline.com/live/1390096/exxonmobil-making-progress-at-hides Thu, 29 Jan 2015 01:53:21 +0000 live Beach cuts spending http://www.upstreamonline.com/live/1390095/beach-cuts-spending Australia's Beach Energy has revised its capital expenditure plans for the second half of the year amid an environment of volatile oil prices which saw its revenues slide 17% during the December quarter. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1390095/beach-cuts-spending Thu, 29 Jan 2015 01:16:20 +0000 live Synergy looks to raise $172m for deals http://www.upstreamonline.com/live/1390094/synergy-looks-to-raise-usd-172m-for-deals US junior Synergy Resources is looking to raise $172.5 million in a stock offering, proceeds of which will be set aside for possible acquisitions in the Wattenberg field in Colorado. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1390094/synergy-looks-to-raise-usd-172m-for-deals Wed, 28 Jan 2015 23:34:54 +0000 live Petrobras 'still faces default risk' http://www.upstreamonline.com/live/1390093/petrobras-still-faces-default-risk Brazilian state-run oil company Petrobras still runs the risk of being declared in default on billions of dollars of debt even after releasing its delayed third-quarter earnings before a self-imposed deadline, a New York-based hedge fund said on Wednesday. Kathrine.Schmidt@upstreamonline.com (Kathrine Schmidt) http://www.upstreamonline.com/live/1390093/petrobras-still-faces-default-risk Wed, 28 Jan 2015 23:29:24 +0000 live Pemex revamps contracting structure http://www.upstreamonline.com/live/1390091/pemex-revamps-contracting-structure Pemex has rolled out a new system to register and vet its contractors just days after an investigation alleged widespread irregularities in the Mexican oil giant's procurement process. Kathrine.Schmidt@upstreamonline.com (Kathrine Schmidt) http://www.upstreamonline.com/live/1390091/pemex-revamps-contracting-structure Wed, 28 Jan 2015 22:57:05 +0000 live BP to cut back on US Gulf staff http://www.upstreamonline.com/live/1390092/bp-to-cut-back-on-us-gulf-staff BP has confirmed that is cutting staff in Houston focused on the UK supermajor's Gulf of Mexico business on the same day it announced further divestments in the region. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1390092/bp-to-cut-back-on-us-gulf-staff Wed, 28 Jan 2015 22:56:58 +0000 live SEC ends Cobalt probe http://www.upstreamonline.com/live/1390090/sec-ends-cobalt-probe The US Securities & Exchange Commission has wrapped up its investigation into Cobalt International Energy's business practices in Angola, the company said. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1390090/sec-ends-cobalt-probe Wed, 28 Jan 2015 22:00:19 +0000 live US House votes to speed LNG projects http://www.upstreamonline.com/live/1389946/us-house-votes-to-speed-lng-projects The US House of Representatives has approved a bill to expedite permits for natural gas exports, a move cheered by industry proponents though not expected to have much of an impact on the LNG market. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1389946/us-house-votes-to-speed-lng-projects Wed, 28 Jan 2015 20:12:37 +0000 live Venezuela seeks financing amid pricing woes http://www.upstreamonline.com/live/1389944/venezuela-seeks-financing-amid-pricing-woes Venezuela President Nicolas Maduro said on Tuesday evening he was seeking financing to counter a dramatic fall in oil prices that have hurt the cash-strapped Opec country but did not provide further details. Kathrine.Schmidt@upstreamonline.com (Kathrine Schmidt) http://www.upstreamonline.com/live/1389944/venezuela-seeks-financing-amid-pricing-woes Wed, 28 Jan 2015 20:11:34 +0000 live Batista quits OGX http://www.upstreamonline.com/live/1389941/batista-quits-ogx Fallen Brazil magnate Eike Batista has resigned from the board of directors and as president of the company formerly known as OGX, once the crown jewel of a high-flying business empire now collapsed into bankruptcy. Kathrine.Schmidt@upstreamonline.com (Kathrine Schmidt) http://www.upstreamonline.com/live/1389941/batista-quits-ogx Wed, 28 Jan 2015 18:56:34 +0000 live Mexico forging ahead on Round 1 http://www.upstreamonline.com/live/1389939/mexico-forging-ahead-on-round-1 Tumbling oil prices will force state-run Pemex to make investment cuts and other cost-saving measures but the Mexican government remains committed to kicking off an inaugural licensing round in July, a top official said today. Kathrine.Schmidt@upstreamonline.com (Kathrine Schmidt) http://www.upstreamonline.com/live/1389939/mexico-forging-ahead-on-round-1 Wed, 28 Jan 2015 18:13:14 +0000 live H&P to lay off 'thousands' http://www.upstreamonline.com/live/1389938/handp-to-lay-off-thousands US land driller Helmerich & Payne (H&P) has started a round of steep layoffs, Upstream has learned, in the latest sign of a deteriorating domestic rig market. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1389938/handp-to-lay-off-thousands Wed, 28 Jan 2015 17:30:49 +0000 live Statoil, GE in efficiency drive http://www.upstreamonline.com/live/1389935/statoil-ge-in-efficiency-drive Statoil and GE are joining forces to develop sustainable energy solutions to drive down costs and cut emissions and energy usage in the oil and unconventional gas industry. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1389935/statoil-ge-in-efficiency-drive Wed, 28 Jan 2015 16:42:00 +0000 live Scotland calls fracking moratorium http://www.upstreamonline.com/live/1389936/scotland-calls-fracking-moratorium The Scottish government has sought to introduce a moratorium on unconventional oil and gas pending a public consultation and further research on the industry. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1389936/scotland-calls-fracking-moratorium Wed, 28 Jan 2015 16:33:12 +0000 live Real Madrid nears big name signing http://www.upstreamonline.com/live/1389934/real-madrid-nears-big-name-signing As the January transfer window nears closing time, football fans eagerly await news of what big name will turn up at their club to turn the team’s fortunes around. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1389934/real-madrid-nears-big-name-signing Wed, 28 Jan 2015 15:54:47 +0000 live Chevron takes on BP Gulf discoveries http://www.upstreamonline.com/live/1389929/chevron-takes-on-bp-gulf-discoveries US supermajor Chevron has teamed up with UK supermajor BP and US oil major ConocoPhillips to explore and appraise 24 jointly-held leases in the north-west portion of the Keathley Canyon area of the deep-water Gulf of Mexico. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1389929/chevron-takes-on-bp-gulf-discoveries Wed, 28 Jan 2015 14:34:18 +0000 live BG in tie-up with KBR http://www.upstreamonline.com/live/1389928/bg-in-tie-up-with-kbr BG Group has forged a global alliance with engineering giant KBR in an effort to optimise field development costs amid low oil prices. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1389928/bg-in-tie-up-with-kbr Wed, 28 Jan 2015 14:33:27 +0000 live Noble in 'Aphrodite talks' http://www.upstreamonline.com/live/1389923/noble-in-aphrodite-talks US independent Noble Energy is reported to have started talks with the Cyprus government on a possible development of its Aphrodite gas discovery off the Mediterranean island state. (News Wires) http://www.upstreamonline.com/live/1389923/noble-in-aphrodite-talks Wed, 28 Jan 2015 13:40:22 +0000 live YPF signs Sinopec shale pact http://www.upstreamonline.com/live/1389921/ypf-signs-sinopec-shale-pact Argentina’s state-run YPF and Chinese giant Sinopec have signed an agreement to further advance development of oil and gas reserves in the country, including in the Vaca Muerta shale. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1389921/ypf-signs-sinopec-shale-pact Wed, 28 Jan 2015 13:13:07 +0000 live Hess profit chopped on revenue slump http://www.upstreamonline.com/live/1389916/hess-profit-chopped-on-revenue-slump Net profit plunged at US independent Hess as revenues fell away amid a low oil price environment. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1389916/hess-profit-chopped-on-revenue-slump Wed, 28 Jan 2015 12:49:07 +0000 live Lundin gets Alta probe nod http://www.upstreamonline.com/live/1389904/lundin-gets-alta-probe-nod Lundin Petroleum has been given the go-ahead to drill an appraisal well on the Alta discovery in the Barents Sea, off Norway. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1389904/lundin-gets-alta-probe-nod Wed, 28 Jan 2015 12:40:06 +0000 live Cenovus deepens capital cutbacks http://www.upstreamonline.com/live/1389899/cenovus-deepens-capital-cutbacks Canada’s Cenovus Energy has further reduced its capital budget for the year by another $700 million as oil prices continue to fall. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1389899/cenovus-deepens-capital-cutbacks Wed, 28 Jan 2015 12:24:33 +0000 live Weatherford chops COO role http://www.upstreamonline.com/live/1389897/weatherford-chops-coo-role Weatherford International has axed the position of chief operating officer as the services giant tries to re-position itself amid tough market conditions. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1389897/weatherford-chops-coo-role Wed, 28 Jan 2015 12:08:12 +0000 live Canacol flows Clarinete discovery http://www.upstreamonline.com/live/1389895/canacol-flows-clarinete-discovery Canacol Energy has flowed its Clarinete gas discovery onshore Colombia at a test rate of more than 3600 barrels of oil equivalent per day. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1389895/canacol-flows-clarinete-discovery Wed, 28 Jan 2015 11:57:54 +0000 live Sasol puts brakes on US GTL plant http://www.upstreamonline.com/live/1389888/sasol-puts-brakes-on-us-gtl-plant South African player Sasol has delayed plans for a gas-to-liquids facility in Louisiana in order to conserve cash in response to tumbling oil prices. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1389888/sasol-puts-brakes-on-us-gtl-plant Wed, 28 Jan 2015 11:22:07 +0000 live Low prices 'to fuel asset sales' http://www.upstreamonline.com/live/1389887/low-prices-to-fuel-asset-sales Low oil prices could force more companies with high debt leverage to offload assets this year, further fuelling global merger and acquisition deals (M&A) that hit a record $321.5 billion in 2014, according to PriceWaterhouseCoopers (PwC). Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1389887/low-prices-to-fuel-asset-sales Wed, 28 Jan 2015 11:13:36 +0000 live UK council defers Cuadrilla shale decision http://www.upstreamonline.com/live/1389878/uk-council-defers-cuadrilla-shale-decision Lancashire County Council has agreed to defer its decision on Cuadrilla Resources' closely-watched applications for a pair of four-well drilling and fracturing sites in north-west England. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1389878/uk-council-defers-cuadrilla-shale-decision Wed, 28 Jan 2015 09:58:51 +0000 live KrisEnergy starts West Papua shoot http://www.upstreamonline.com/live/1389872/krisenergy-starts-west-papua-shoot Singaporean company starts seismic survey onshore Indonesia Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1389872/krisenergy-starts-west-papua-shoot Wed, 28 Jan 2015 09:21:10 +0000 live Petrobras reassessing scandal costs http://www.upstreamonline.com/live/1389876/petrobras-reassessing-scandal-costs Brazilian giant Petrobras has finally released its long-delayed third-quarter results, but has not booked any charges related to the corruption scandal that has rocked the company. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1389876/petrobras-reassessing-scandal-costs Wed, 28 Jan 2015 09:19:36 +0000 live Ramboll in Culzean hat-trick http://www.upstreamonline.com/live/1389877/ramboll-in-culzean-hat-trick Engineering consultancy Ramboll Oil & Gas has secured a further detailed design contract for a pair of platform jackets on Maersk Oil’s Culzean field project in the UK North Sea. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1389877/ramboll-in-culzean-hat-trick Wed, 28 Jan 2015 09:11:51 +0000 live Shell inks $11bn Iraq petrochems deal http://www.upstreamonline.com/live/1389874/shell-inks-usd-11bn-iraq-petrochems-deal Shell has signed a deal with Iraq’s government that paves the way for development of an $11-billion petrochemicals plant in the major Middle East producer. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1389874/shell-inks-usd-11bn-iraq-petrochems-deal Wed, 28 Jan 2015 09:02:51 +0000 live Gazprom gas pipe moves ahead http://www.upstreamonline.com/live/1389875/gazprom-gas-pipe-moves-ahead Russia’s Gazprom aims to launch supplies along a new gas pipeline to Turkey by the end of 2016 after approving plans for the route that will replace the now jettisoned South Stream scheme. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1389875/gazprom-gas-pipe-moves-ahead Wed, 28 Jan 2015 08:29:05 +0000 live AGL halts work after BTEX found http://www.upstreamonline.com/live/1389869/agl-halts-work-after-btex-found The New South Wales Environmental Protection Agency (EPA) has halted Australian company AGL from carrying out any further work at its Waukivory pilot coalbed methane project in the state following the discovery of chemicals in water samples. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1389869/agl-halts-work-after-btex-found Wed, 28 Jan 2015 05:12:14 +0000 live Oil dips as dollar strengthens http://www.upstreamonline.com/live/1389868/oil-dips-as-dollar-strengthens Oil fell more than 1% on Wednesday as the dollar strengthened in early Asian trade, while an industry report showing a larger-than-expected rise in US crude inventories also dragged on prices. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1389868/oil-dips-as-dollar-strengthens Wed, 28 Jan 2015 04:33:43 +0000 live Medco signs Aceh gas deal http://www.upstreamonline.com/live/1389865/medco-signs-aceh-gas-deal Indonesian independent Medco Energi has signed a gas sales agreement with a value of $2 billion to underpin the development of its fields in the onshore Block A in the region of Aceh in Sumatra. (Russell Searancke) http://www.upstreamonline.com/live/1389865/medco-signs-aceh-gas-deal Wed, 28 Jan 2015 03:35:30 +0000 live Yinson to supply Eni FPSO off Ghana http://www.upstreamonline.com/live/1389866/yinson-to-supply-eni-fpso-off-ghana Malaysia's Yinson Holdings has landed a contract from Eni to supply the Italian giant with a floating production, storage and offloading vessel for its Offshore Cape Three Points deep-water project, off Ghana. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1389866/yinson-to-supply-eni-fpso-off-ghana Wed, 28 Jan 2015 03:34:45 +0000 live Drillsearch posts fall in revenue http://www.upstreamonline.com/live/1389864/drillsearch-posts-fall-in-revenue An increase in production was not enough to offset the steep decline in oil prices as Australian company Drillsearch Energy saw revenues fall in the fourth quarter of 2014. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1389864/drillsearch-posts-fall-in-revenue Wed, 28 Jan 2015 02:55:53 +0000 live Karoon hits more Kangaroo oil http://www.upstreamonline.com/live/1389859/karoon-hits-more-kangaroo-oil Karoon Gas Australia has completed the first of two sidetracks of the Kangaroo-2 appraisal well in Brazil's offshore Santos basin. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1389859/karoon-hits-more-kangaroo-oil Wed, 28 Jan 2015 01:12:51 +0000 live US crude closes above $46 http://www.upstreamonline.com/live/1389858/us-crude-closes-above-usd-46 Oil jumped as much as 3% on Tuesday as a weak dollar propped up commodities, but crude prices came off their highs in post-settlement trading on signs of another big US supply build last week. Kathrine.Schmidt@upstreamonline.com (Kathrine Schmidt) http://www.upstreamonline.com/live/1389858/us-crude-closes-above-usd-46 Wed, 28 Jan 2015 00:13:42 +0000 live US shakes up lease sale plans http://www.upstreamonline.com/live/1389855/us-shakes-up-lease-sale-plans US oil and gas regulators have proposed shaking up the historical structure for Gulf of Mexico lease sales, making central and western blocks available in both of its annual bid offerings. Kathrine.Schmidt@upstreamonline.com (Kathrine Schmidt) http://www.upstreamonline.com/live/1389855/us-shakes-up-lease-sale-plans Tue, 27 Jan 2015 21:20:44 +0000 live US proposes Atlantic exploration http://www.upstreamonline.com/live/1389849/us-proposes-atlantic-exploration The US is taking its latest step towards oil and gas exploration off its Atlantic coast, proposing a lease sale there in 2021 as part of its latest five-year strategic plan. Kathrine.Schmidt@upstreamonline.com (Kathrine Schmidt) http://www.upstreamonline.com/live/1389849/us-proposes-atlantic-exploration Tue, 27 Jan 2015 19:52:43 +0000 live Partners hit at Power Nap http://www.upstreamonline.com/live/1389835/partners-hit-at-power-nap Shell has confirmed a discovery at its Power Nap prospect in the Vito area of the Gulf of Mexico. Kathrine.Schmidt@upstreamonline.com (Kathrine Schmidt) http://www.upstreamonline.com/live/1389835/partners-hit-at-power-nap Tue, 27 Jan 2015 17:37:13 +0000 live European E&P spending 'to slump by 15%' http://www.upstreamonline.com/live/1389831/european-eandp-spending-to-slump-by-15-percent Capital expenditure on field development in central and Mediterranean Europe will slump by 15% to $5.8 billion this year as a result of tumbling oil prices, a new analysis has predicted. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1389831/european-eandp-spending-to-slump-by-15-percent Tue, 27 Jan 2015 16:00:18 +0000 live Allseas faces action on 'slavery' http://www.upstreamonline.com/live/1389823/allseas-faces-action-on-slavery Allseas is facing a possible boycott of its vessels working for operators including Statoil off Norway after the International Transport Workers Federation (ITF) alleged that it forces personnel to work under “slave-like” conditions. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1389823/allseas-faces-action-on-slavery Tue, 27 Jan 2015 15:34:11 +0000 live Freeport-McMoRan books steep losses http://www.upstreamonline.com/live/1389821/freeport-mcmoran-books-steep-losses Resource giant Freeport-McMoRan has swung to a net loss for the fourth quarter and 2014 as a whole as impairment charges on its oil and gas assets put the company into the red. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1389821/freeport-mcmoran-books-steep-losses Tue, 27 Jan 2015 15:26:25 +0000 live Samsung denies Ocean Rig re-jig talks http://www.upstreamonline.com/live/1389757/samsung-denies-ocean-rig-re-jig-talks Samsung Heavy Industries has denied that is has held discussions with Greek contractor Ocean Rig about the latter swapping one or two drillship orders for a clutch of tanker newbuilds. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1389757/samsung-denies-ocean-rig-re-jig-talks Tue, 27 Jan 2015 14:16:18 +0000 live SADR urges UN to halt Kosmos drilling http://www.upstreamonline.com/live/1389756/sadr-urges-un-to-halt-kosmos-drilling The exiled government that claims dominion over Western Sahara has urged the United Nations Security Council to bring an end to Kosmos Energy’s current drilling operations off the Morocco-administered territory, branding them illegal and a serious provocation. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1389756/sadr-urges-un-to-halt-kosmos-drilling Tue, 27 Jan 2015 13:29:59 +0000 live Skarv gas output held back http://www.upstreamonline.com/live/1389808/skarv-gas-output-held-back Weather-related challenges are reportedly preventing BP from installing a new electrical transformer on its Skarv floating production, storage and offloading vessel, with gas output likely to remain curbed at least until mid-February. (News Wires) http://www.upstreamonline.com/live/1389808/skarv-gas-output-held-back Tue, 27 Jan 2015 13:08:27 +0000 live Aramco reviewing development projects http://www.upstreamonline.com/live/1389784/aramco-reviewing-development-projects Saudi Arabian state company Saudi Aramco plans to review its oil and gas development projects, slowing down some and renegotiating some contracts in response to falling oil prices. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1389784/aramco-reviewing-development-projects Tue, 27 Jan 2015 13:04:05 +0000 live Eni sanctions Offshore Cape Three Points http://www.upstreamonline.com/live/1389804/eni-sanctions-offshore-cape-three-points Italy’s Eni has sanctioned the Offshore Cape Three Points oil and gas deep-water project off Ghana to develop the Sankofa and Nye Gyame discoveries. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1389804/eni-sanctions-offshore-cape-three-points Tue, 27 Jan 2015 12:11:26 +0000 live Volga Gas abandons sale bid http://www.upstreamonline.com/live/1389800/volga-gas-abandons-sale-bid Russia-focused junior Volga Gas has dropped its effort to sell the company after failing to garner any suitable bids. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1389800/volga-gas-abandons-sale-bid Tue, 27 Jan 2015 11:37:40 +0000 live Norway workers to strike http://www.upstreamonline.com/live/1389789/norway-workers-to-strike Thousands of Norwegian offshore workers are set to down tools on Wednesday in a two-hour political strike over proposed changes to work environment laws. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1389789/norway-workers-to-strike Tue, 27 Jan 2015 10:55:08 +0000 live UK parliament rejects fracking ban http://www.upstreamonline.com/live/1389773/uk-parliament-rejects-fracking-ban The UK’s parliament has voted to reject a proposed moratorium on hydraulic fracturing in unconventional exploration. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1389773/uk-parliament-rejects-fracking-ban Tue, 27 Jan 2015 09:55:21 +0000 live Snohvit LNG plant shut down http://www.upstreamonline.com/live/1389771/snohvit-lng-plant-shut-down Statoil has reportedly shut down production at its Snohvit liquefied natural gas plant in northern Norway after the alarm was triggered by a gas leak. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1389771/snohvit-lng-plant-shut-down Tue, 27 Jan 2015 09:49:33 +0000 live KMG production slips 1% in 2014 http://www.upstreamonline.com/live/1389759/kmg-production-slips-1-percent-in-2014 Kazakhstan’s KazMunaiGas Exploration Production reported a 1% slip in output in 2014 to 250,000 barrels per day of oil as falling venture production at declining fields outpaced growing output on its operated projects. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1389759/kmg-production-slips-1-percent-in-2014 Tue, 27 Jan 2015 09:03:58 +0000 live Afren faces cash squeeze http://www.upstreamonline.com/live/1389758/afren-faces-cash-squeeze Afren has revealed it is facing a serious liquidity shortfall to fund ongoing operations as an imminent debt repayment deadline looms for the beleaguered UK independent. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1389758/afren-faces-cash-squeeze Tue, 27 Jan 2015 08:43:29 +0000 live Tethys prepares for asset write down http://www.upstreamonline.com/live/1389755/tethys-prepares-for-asset-write-down Sweden's Tethys Oil has warned that it expects to book a Skr127 million ($15.3 million) write down in its fourth quarter results. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1389755/tethys-prepares-for-asset-write-down Tue, 27 Jan 2015 08:09:44 +0000 live Technip wins Gulf of Mexico contracts http://www.upstreamonline.com/live/1389754/technip-wins-gulf-of-mexico-contracts French engineering company Technip has landed two subsea contracts in the Gulf of Mexico from US independent Stone Energy. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1389754/technip-wins-gulf-of-mexico-contracts Tue, 27 Jan 2015 06:54:48 +0000 live Buru spins Canning basin bit http://www.upstreamonline.com/live/1389753/buru-spins-canning-basin-bit Australia-listed Buru Energy has spudded an exploration well on EP 129 in Western Australia's onshore Canning basin. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1389753/buru-spins-canning-basin-bit Tue, 27 Jan 2015 04:47:21 +0000 live Oil steadies following Opec comments http://www.upstreamonline.com/live/1389752/oil-steadies-following-opec-comments Brent crude oil prices held above $48 on Tuesday following comments from Opec that prices may have found a floor. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1389752/oil-steadies-following-opec-comments Tue, 27 Jan 2015 04:26:03 +0000 live Energy Transfer Partners to buy affiliate http://www.upstreamonline.com/live/1389751/energy-transfer-partners-to-buy-affiliate Pipeline company Energy Transfer Partners is buying affiliate Regency Energy Partners for roughly $11 billion, the latest example of master limited partnerships (MLP) trying to simplify their structures and lift returns. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1389751/energy-transfer-partners-to-buy-affiliate Tue, 27 Jan 2015 04:18:18 +0000 live